On 30 September 2023, the Nobles Company sold old delivery equipment for $9,000. The delivery...
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Accounting
On 30 September 2023, the Nobles Company sold old delivery equipment for $9,000. The delivery equipment was purchased on 1 January 2021 for $21,000 and was estimated to have a $3,000 residual value at the end of its 5-year life. Depreciation on the delivery equipment has been recorded through 31 December 2022. The Nobles Company has a financial year end of 31 December and uses the straight-line method of depreciation.
Required: Prepare the journal entries to record the transactions.
Instructions: Read the instruction carefully. - To answer this question: - You need to fill in the missing blanks in the table by using the appropriate charts of accounts from the followings. Depreciation expense; Accumulated depreciation - delivery equipment; Cash; Loss on Disposal; Delivery equipment Hint: Copy the above Charts of Accounts (COA) and paste in the blanks of Accounts Details to avoid typing/spelling errors. Do Not use space, commas or dollar sign (\$) with amounts in Debit and Credit columns. Nobles Company Journal Entries Date Accounts 30 September 2023 Debit $ Credit $ Credit $ To record depreciation expense. Cash To record the sale of delivery equipment
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